FIFA announces R275m profit

2012-03-30 16:09
Sepp Blatter (File)

Zurich - FIFA says it made a profit of $36 million on its billion-dollar income in 2011 and increased its reserves to $1.293 billion.

FIFA accounts showed it had $1.07 billion revenue and spent $1.034 billion last year.

It banked an additional $13 million in its reserve fund.

The figures cover the first year in a four-year cycle of commercial deals tied to the 2014 World Cup in Brazil.

FIFA said the tournament earned $910 million in 2011, and $550 million was banked from broadcasting deals.

Nearly all broadcasters and sponsors are signed to two-tournament packages that began with the 2010 tournament in South Africa.

FIFA pays no income tax because of its status in Swiss law, and exemptions granted by tournament host nations.

Read more on:    soccer  |  fifa

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